Ikea’s change of focus hurts group profits as it braces for redundancies November 28, 2018 Ikea group profits dropped by a quarter in its latest financial year, driven down by billions of pounds invested into adapting to people's changing shopping habits. The furniture giant’s parent company, Ingka Group, reported the €780m (£688.7m) year-on-year drop in its full-year results this morning, blaming spending on transforming its business model to an approach focused heavily on [...]
Ikea cites rapid change in the retail sector as it cuts 7,500 jobs worldwide November 21, 2018 Ikea will cut 7,500 jobs worldwide over the next two years as it focuses on developing its website and inner-city stores, it said today. The cuts, which include 350 roles in the UK, will not hit the headcount of Ikea's 160,000 employees worldwide as it also plans to add 11,500 new jobs to its global workforce. [...]
Online sales are set to hit record levels on Black Friday as high street footfall declines November 21, 2018 The proportion of sales made online is likely to hit its highest level ever in November, boosted by a Black Friday internet shopping rush and fewer high street shoppers. Internet sales are expected to exceed 20 per cent of total retail sales for the first time ever this month, according to research by real estate firm [...]
Meatballs from home? Ikea launches takeaway delivery with Uber Eats November 15, 2018 The popularity of hygge, the Danish concept of cosiness, may be waning, but now Brits are being asked to embrace the even more impossible-to-pronounce fredagsmys, another Scandinavian import. As temperatures drop, Ikea and Uber Eats have teamed up to bring the Swedish furniture chain’s iconic meatballs into people’s homes. They hope Swedish fredagsmys – the [...]
DEBATE: Will Ikea’s new small store format in urban centres help save the high street? November 5, 2018 Will Ikea’s new small store format in urban centres help save the high street? Adrian Moorhouse, managing director of Lane4, says YES. Ikea’s experiment with smaller city centre stores is a great example of a brand evolving to stay connected to its customers, by accommodating the changing ways in which people both live and shop. As a lot [...]
Sofa, so good: Ikea growth driven forward by deliveries and online November 2, 2018 Ikea grew revenues by almost six per cent in the financial year, as online sales helped expand the top line. The furniture giant grew UK revenues by 5.9 per cent to £1.97bn for the financial year ending August. It increased market share to 8.4 per cent from eight per cent last year. While nearly 60m [...]
Flat pack expansion: Ikea to reach 3bn people by middle of next decade October 10, 2018 Ikea will reach almost half the world’s population by 2025 as it branches into South America and eleven other markets in the coming year. The furniture giant, which grew retail sales by 4.5 per cent in the financial year ending August, said it would open stores in Estonia, Ukraine, Puerto Rico, Oman, Luxembourg, Macau and [...]
Ikea accused of ‘vicious’ anti-union campaign, allegedly using intimidation tactics September 27, 2018 Ikea violated workers’ rights to unionise in three countries, a federation of unions has claimed in a complaint filed to the OECD. The UNI Global Union, a collection of 900 unions from 140 countries, accuses Ikea of a “vicious anti-union campaign in the United States, Ireland, and Portugal.” Read more: Samsung Electronics boss indicted for [...]
Ikea creating a happy home for workers too as firm embraces living wage July 28, 2015 One of the crucial aspects of the chancellor’s Budget was the commitment to raise the living wage for over 25s to £9 per hour by the year 2020, a rise from the current rate of £7.20. Our immediate post-Budget research showed the policy to be very popular – across supporters of all of the [...]
This is what our kitchens will look like in the future, according to Ikea July 27, 2015 Our kitchens are set to transform dramatically over the next 10 years, according to a futuristic installation created by Ikea. The Concept Kitchen 2025, which is on display at EXPO Milan 2015, shows how our cooking, cleaning and waste disposal will become much more technology-dependant over the coming years. Read more: 14 plans for [...]